Dozens of Korean companies in the construction sector have shown growing interest in Cambodia’s booming property sector. The firms, which are mainly building material suppliers, gathered this week for a roadshow at Sofitel Phnom Penh.Put on jointly by the Korea Trade-Investment Promotion Agency (Kotra), the commercial section of the Korean Embassy, and the Cambodia Constructors Association (CCA), the event was the first-ever road show in the Kingdom for nearly 30 Korean companies.Kyungmoo Kwon, director general of Kotra Phnom Penh, said on Thursday that the construction industry in Cambodia is booming and there are a lot of opportunities for Korean companies. He added that much of Cambodia’s construction materials are currently imported from China, Vietnam and Thailand.“We really want to introduce more efficient, safer and better quality Korean products and equipment to the construction sector,” he said.“After this first roadshow, we will expand to do roadshows about construction machinery and design, and seek more cooperation related to construction projects.” Korean investors lose prominence to Chinese counterpartsAccording to Kyungmoo, there are 40 Korean companies operating in Cambodia in the construction and real estate sectors. He said that as more enter the market, Korean-backed projects will gain a better image.Korean investors were originally considered first movers in the Cambodia construction scene. However, they have since been superseded by investors from China. The capital’s Gold Tower 42 was originally a project backed by Korean interests. Announced in 2006 the building was plagued by numerous delays. Progress sped up again this year and completion is forecasted for 2020.  Hann Khieng, vice-president of the Cambodia Constructors Association (CCA), said that Korean construction material suppliers offer a wide variety of products, which is helpful to the growing Cambodian construction sector.“The developers now have more choices. I see many attractive materials that are needed in the construction sector. Korean products are quality and the price is competitive.”If you found this article useful, you should read our overview of the Cambodia construction sector in the Investment Guide 2019.Article by:

Cambodia’s garment industry still holds a promising position, despite worries over automation and international trade disputes, sector insiders said this week.However, many commenters claimed that competitiveness still needs to be boosted to increase orders. According to a real estate expert, on the other hand, demand and price are both up for warehouses and commercial land in the Kingdom.John Cha, an executive committee member of the Garment Manufacturers Association of Cambodia (GMAC), said on Wednesday that staying competitive is the foremost priority. Cha addressed industry figures at a seminar dubbed “Industry 4.0: The Future of the Garment Sector”.“As long as we make ourselves more cost-effective, [the garment industry] will still be able to compete in the global marketplace,” he told reporters.Cha added that the government has spearheaded several initiatives aimed at lower the cost of doing business in Cambodia. These include measures to lower the costs of electricity, logistics and inspection fees.“When we get more orders, we need more workers. We are more automated now than 20 years ago when everything was done manually. Automation is not removing the workers.”Responding to a question regarding the withdrawal of the EU’s Everything But Arms (EBA) trade preference scheme, Cha said the industry will survive it competition becomes the focus.“We build our advantages in terms of costs, in terms of logistics, in terms of other challenges that confront our industry … whether or not EBA is withdrawn or not, we must make ourselves more competitive. We have to do it every day, every month, and every year.”Demand for industrial space on the riseCha added that garment sector numbers are accelerating despite any worries. He said the country’s garment and footwear exports were valued at $10 billion last year, up 24 percent from 2017.Reflecting on any effects being felt in the real estate market, Key Real Estate founder Sorn Seap told Realestate.com.kh that demand and rental prices are still on the rise for both commercial and industrial spaces.“Currently, there are no negative signs. The demand for warehouses and factory land is still strong. In fact, the demand is still increasing and rental fees are also up,” he said. If you're shopping for commercial real estate for rent start your search right here on Realestate.com.khArticle by:

Sovanna Shopping Centre, in Phnom Penh’s Chamkarmon district, will temporarily suspend operations starting in September in order to renovate. The complex, inaugurated in 2008, has faced stiff competition from newer capital shopping venues, the mall’s executive director confirmed Friday.Sovanna Shopping Centre’s Executive Director Chea Sokheak told Realestate.com.kh that the renovation was aimed at giving the mall a new look. She added that the venue would be closed for at least a year.Sokheak claimed that the building would continue to be a shopping centre, however, other types of spaces such as offices could also be included in the next iteration.“Current tenants can continue their business until the end of August. Starting in September we will start to refurbish the centre. It will be a large-scale renovation so it could take at least one year,” she said.  Sokheak did not give any data about the financial performance of the mall. However, she did confirm that it has been impacted by competition from the increased number of shopping venues in Phnom Penh.“Stronger competition always affects the business whether [the competitors are] big or small … The location of Sovanna Shopping Centre is still a good place and investors are willing to put up funds to make it better.”Sokheak said that it is normal for shopping centres to renovate after over ten years of operation in order to keep up with safety standards and visitor demands.  Concerning current tenants, Sokheak said the mall’s management company will compensate those with standing contracts. She added that many will be given the option to lease space at other shopping centres managed by her company.Following in the footsteps of Sorya Center PointLocated in the Chamkarmon district’s Tumnup Teuk commune, Sovanna Shopping Centre spans around 50,000 square metres across five floors. The mall is currently owned by developer Overseas Cambodian Investment Corporation (OCIC). In addition to Sovanna, the company also owns Sorya Center Point in Daun Penh district and Ratana Plaza Market in Sen Sok district.OCIC’s Sorya was Cambodia’s first modern shopping centre. Introduced in 2003, the complex sits adjacent to the capital’s storied Central Market. Sorya was considered the most successful shopping complex in the country until the Japan-backed Aeon Mall was inaugurated in 2014.Sorya itself was given a major facelift in early 2016. After the $5-million renovation, it was renamed Sorya Center Point.For daily updates on real estate, business and commerce in Cambodia, stay tuned to our news blog. And don't forget to use our listings if you're looking for real estate for rent in Phnom Penh!Article by:

The anticipated follow-up to the inaugural Cambodia Real Estate Awards is almost here. The Cambodia Real Estate Awards 2019 is set for later this year. It will take place at Phnom Penh's Sofitel Phokeethra. Entries are now open to all real estate agencies and professionals operating in Cambodia.Over 20 awards will be given out on the night in a variety of categories. Agencies will be split into two categories based on their size. To be sure, true excellence in the industry will be recognised.If you think your company is the best in the business, enter now. For more information about entering the awards contact Realestate.com.kh here:Email: info@realestate.com.khPhone: 090 921 000Make sure you get your entries in soon! We want this to be an all-inclusive event. ***ALL REGISTERED AGENCIES ARE INVITED TO ENTER!***After entries close the materials will be passed to the Ministry of Economy and Finance to verify that all businesses are legally registered in the country. NOTE: They will only be checking your business registration number.Then, the entries will be passed to a panel of distinguished judges. This year the panel will be headed by Dr Sok Siphana of SokSiphana&associates. Dr Siphana is highly accomplished lawyer and leading corporate figure who has been held in the highest regard by Cambodia’s real estate sector for many years.Judges on the panel will deliberate and determine a list of winners. The whole process will be audited by a third party to ensure fairness and due diligence at every step. Cambodia Real Estate Awards gala eventLater this year there will be a gala dinner at Phnom Penh’s Sofitel Phokeethra. It will be an evening of excitement, excellence and fun. All industry professionals are invited to book their tickets, dress their smartest and show up to this high-class event.If you are a winner you will be given a magnificent trophy and become a superstar for the evening and the rest of the year. Professional photo and video teams will be onsite to capture every moment and the awards will be broadcast live on Facebook and rerun on Cambodia TV via CBS.Winners will have exclusive use of the CREA logo to adorn all their business materials for the coming year. They will also have tons of photos and videos to use in their own marketing.Contact Realestate.com.kh to enter and book your tickets for the gala. Even if you’re not entering the awards you’re welcome to join the event and perhaps even buy a sponsorship.For more information about the awards, click over to the main page for the Cambodia Real Estate Awards 2019.

Cambodian financial institutions saw a huge jump in the amount loaned out for mortgages early this year. Experts in the financial and real estate industries say the trend illustrates the growing strength of the Kingdom’s property sector. According to the latest data from Credit Bureau Cambodia (CBC), mortgage loans nationwide at the end of March amounted to $3.2 billion. This marks an increase of 34 percent from the same time last year when the amount stood at $2.36 billion.“The performance of mortgage loans provided by financial institutions is pretty good in the Cambodia market,” CBC’s Chief Executive Officer Oeur Sothearoath told Realestate.com.kh via e-mail. “The trend is increasing at the same speed as last year and aligns with overall industry growth.” Mortgage loans make up one of the total three categories within the consumer credit index recorded by the CBC. According to Sothearoath, the sum refers only to mortgages given out by financial institutions such as banks or microfinance groups who are CBC members. Mortgage loans from housing developers and borey companies are not accounted for in the figure.Key Real Estate founder and director Sorn Seap said on Thursday that the demand for houses in Cambodia is increasing. This is driven by an increasing number of middle-class and young couples who have higher incomes and want to live separately from their parents. Seap added that the increasing amount proves that financial institutions have confidence in the property sector. Lenders, he said, routinely grant mortgages with down payments as low as 20 percent.“The prices of houses and property will keep growing and this proves to banks that putting their money in the sector is safe and profitable,” he said, adding that the government has allocated more of the national budget toward infrastructure development for things like roads, bridges, and expanding utility services. “With more infrastructure development, there is more buying and selling of property.” CBC’s consumer credit index encompasses personal finance loans, mortgages and credit cards.The total outstanding balance of consumer credit in Cambodia stood at $6.7 billion at the end of March. This was up 7.4 percent from the end of December, according to the latest report from the CBC.Article by:

The six-storey Chip Mong Noro Mall in Boeung Keng Kang I (BKK1) district is scheduled to open shop later this year. The shopping centre is set to have a net leasable area of 7,400 square metres. According to the firm managing the mall, nearly 75 percent of the space is already fully booked by tenants and businesses. Located on Norodom Boulevard, between streets 360 and 370, Chip Mong Noro Mall is the first project by Chip Mong Retail, a subsidiary of Chip Mong Group. Thyda Pov, leasing manager of CBRE, the company responsible for managing Noro Mall, told Realestate.com.kh on Wednesday that the property began signing tenants early this year. She said that more than 75 percent of the leasable space has been booked.Thyda said that the mall is located in a prime location where demand is rising for retail options, residential and commercial buildings.“When the mall goes online, it will leverage even more potential from Boeung Keng Kang district.”According to Thyda, the construction of the building is nearly complete and the only work left is interior design of the mall. She added that tenants include a supermarket, cinema, bakery, restaurants, cafes, and entertainment venues. Additionally, the mall has a parking lot that can host 79 cars and 317 motorbikes. To stay updated on all real estate and business stories in Cambodia, sign up for our newsletter.Article by:

At the midpoint of 2019, Cambodia is continuing to see massive real estate growth. The supply of apartments is still on the rise, even after a blockbuster year in 2018. As a result of this growth, there is substantial supply in the real estate marketplace. Much of this supply exists in the home market and at the high end of the condo market. Look for condo for sale in Phnom Penh. Overall, it is becoming a buyer’s market and the prices are stabilising. In central districts of Cambodia’s major cities, structures are building higher and higher. Nowhere can this be seen better than in Phnom Penh’s BKK1. Residences and mixed-use developments are growing taller.To the south, Sihanoukville is becoming one of the most promising coastal cities in Asia. In fact, real estate insiders have already dubbed it the “next Shenzhen”. All agree that there is huge potential there for property investment and general commerce.An increasing number of Chinese tourists are flocking to the coastal area, causing the hospitality industry to blossom and fuel even faster development. Just in the first five month of this year, Chinese visitor numbers were up by 40 percent from last year. Estimates are that almost 200,000 Chinese expatriates have settled in the area.Surprisingly, there has never been a large-scale shopping centre in Sihanoukville. Soon, however, all that will change. By the end of this year, Prince Huan Yu Real Estate will complete the first one-stop shopping complex, Prince Huan Yu Mall, a brand new landmark for the people of Sihanoukville. This site will be yet another factor in making the city more attractive to visitors, and serve as a top-tier amenity for all in Sihanoukville.Prince Huan Yu Mall, set to open in November, spans 50,000 square metres. It is the first international-grade shopping and entertainment centre in Sihanoukville and it will usher in a new era of development for the coastal city.Many major brands have already signed up to sell their products and services in the mall. Tenants in the shopping centre will include Legend Cinema, Wink KTV, Levi’s, Chow Tai Fook, XiaoMi, Pandora, Nata, Skechers, Bering, G2000, ALDO, Pizza Company, Amazon Cafe, MingMen restaurant, Bashu Dazhaimen Hot Pot, LuYu, Lucky Sheep, Fuji Japanese restaurant, Binjhung Taste and many more.Project process updatesThe five-storey Prince Golden Bay Shopping Center has already been capped.Half of the partitions have been constructed.Fire protection, an air conditioning system and elevators have begun to construct.In fact, Prince Huan Yu Mall is just the starter of Prince Golden Bay, a massive mixed-use development project by Prince Huan Yu Real Estate.Prince Golden Bay covers an area of over 22,000 square metres and consists of a shopping centre and four apartment buildings which host over 2,000 units.Prince Golden Bay is located on one of Cambodia’s most well-known strips of coastline, Sokha Beach, just 300 metres from the water, and north of Sokha Hotel, a landmark of Sihanoukville.The location of the complex is an area that is home to many modern communities. Up to 50,000 people will be able to live in the area when all is said and done. It is sure to become the core of administration, business and culture in the entirety of Sihanoukville.Fashionable, seaside apartments are a highlight feature of Prince Golden Bay. Spaces here come in a range of sizes from 42 to 76 square metres. They are suitable as holiday homes or everyday residences and are sure to offer high future returns.The four apartment buildings of the complex are surrounded by a communal garden which hosts Southeast Asian tropical topiary. What’s more, there are amazing ecological gardens on each building’s roof. There’s also a large outdoor swimming pool and high-standard gym that allows you to relax and exercise.Like the most up-to-date residences, Prince Golden Bay will provide 24-hour butler home services. More customised services are also available such as chartering, property management services and much more, in order  to maximise satisfaction for owners.With Prince Golden Bay, Prince Huan Yu Real Estate is offering buyers flexible payment schemes. You can get a home loan of up to 25 years with down payments starting at just 30%, or around $20,000.Prince Bank will offer financial support and personal services to buyers. At Golden Bay you can get a quality payment plan with a good rental return.Prince Golden Bay is perfect for a holiday-home hunter or even a quick-return seeker. Here you have the beauty of nature at your fingertips.Search for real estate for sale and rent in Camboida, visit Realestate.com.kh. Or stay tuned for real estate news! To search for real estate for sale and real estte for rent in Cambodia, visit Realestate.com.kh!

Australian casino firm Donaco, which operates gaming facilities in the border town of Poipet, announced on Tuesday the appointment of Paul Arbuckle as its chief executive officer. According to a filing on the Australian Securities Exchange (ASX), Arbuckle is starting at a fixed annual salary of $279,000.The new appointment takes effect on June 12. In addition to Arbuckle’s fixed salary, he is also eligible to receive annual incentives in cash or equity of up to $279,000 per year.Serving as Donaco’s CEO, Arbuckle will be primarily based out of the company’s Star Vegas casino and hotel complex in Poipet. The company also operates the Aristo International Hotel in Lao Cai, Vietnam, just off the country’s border with China.“I am keen to roll up my sleeves and embrace the challenges at Donaco. The company has two very valuable and profitable casino assets, and I am confident that my experience in gaming operations will be beneficial to these businesses,” he said in the filling. “I can see the potential for these businesses in serving customer demand from Thailand, China, and beyond.” Gambling is illegal in both Thailand and China, so many people travel across the border to visit gaming facilities. Cambodia is increasingly becoming a gambling destination in the region. While betting is illegal for the Kingdom’s citizens, foreigners are free to lay bets. Read our guide to Cambodia casinos to learn more about the gambling industry in the country, and see our map of all the major casinos in the country.Donaco’s Star Vegas Resort & Club was established in 1999. It is currently the largest gaming venue in Poipet.The property hosts more than 100 gaming tables, over 1,500 slot machines, and 385 hotel rooms.Arbuckle previously served as chief operating officer at Star Entertainment Group’s Star Gold Coast casino, located in Queensland, Australia. He has also held leadership positions at Singapore’s Resorts World Sentosa and Australia’s Tabcorp Holdings.If you're looking for real estate for sale in Poipet, start your search right here.Article by:

When Seun Son spent $16,000 to buy a plot of land in Phnom Penh’s Preak Kampues commune in mid-2016, he did not expect immediate returns from the investment. After all, the property market in that area had little activity. Back then there were only rice fields and a few houses in the area. Son’s land, a 266 square metre plot, sold for just $60 per square metre. The only way to access the land was a small dirt road jutting off National Road 2.However, Son’s fortune came much earlier than he anticipated. One year after he purchased the land, Son watched as Hun Sen Boulevard was constructed. The massive new highway connected National Road 2 and Street 271. Then the floodgates opened.A number of high-end residential projects came to the area after Hun Sen Boulevard was complete. This included borey developments and, of course, plans for the third location of the massively-popular Aeon Mall. Plans for the shopping centre state that it will be larger in size than the first two locations combined.“The ongoing development projects surrounding Hun Sen Boulevard have made the price of land at my place increase enormously compared to three years ago,” he told Realestate.com.kh.Son added that he receives many calls every week asking about the price of his plot.“At the current market price, my land could sell for around $200 per square metre.” Developments lift Dangkor real estate valuesAccording to industry experts, Son isn’t the only land owner benefiting from the rise of development activity in the area.Dangkor district, covering the capital’s south and west, is seeing massive growth. Key Real Estate founder Sorn Seap claimed that Dangkor’s land prices were the third-fastest rising in the entire country.He added that the announcement of Phnom Penh’s third ring road was also a contributing factor to increased land prices. The land adjacent to the road, currently under construction, used to cost just $10 or $20 per square metre. Now the going rate is $100 to $150 per square metre nearby and as much as $50 per square metre off secondary streets.Ann Thida, director of real estate agent services at CBRE, said that Dangkor district has seen significant price increases. She speculated that prices could soon go as high as $200 per square metre near National Road 2 in Preak Kampues commune.“Whenever a huge development project appears, it causes land in the surrounding area to increase depending on its proximity to the project site,” she said. Seun Son, meanwhile, contends that Phnom Penh will keep expanding. He expects his land to soon be surrounded by residential and commercial projects. “I don’t plan to sell my land. I believe the price will be much better in the future.” If you want to get in on the action start browsing for real estate for sale in Dangkor district.Article by:

Saturday saw one of the biggest real estate projects in the region introduced to Cambodia. Vaun Property Cambodia, one of the newest entrants to the country’s bustling property market, held a launch event for the Australia 108 building at Phnom Penh’s Rosewood Hotel on Saturday.This launch comes at a time when the Australian dollar (AUD) is at a three-year low versus the USD. Many speculate that now is the time to buy in the country.Dozens of the biggest property investors in the country headed to the 36th floor of the Kingdom’s tallest building to hear about the project dubbed the southern hemisphere’s tallest residence.According to Regis Broadway, Vaun Property’s regional director, the building is set to be the pride of Melbourne and all of Australia for both its style and grandeur.“When people ask where you live, just tell them to look up,” he added.Low AUD means a better deal for foreign buyersDescribing what a unique opportunity Australia 108 is offering buyers from abroad, Luke Vaughan, Vaun Property’s managing director said that their has been considerable interest from Asia, especially considering how low the AUD has sunk in value.“Strong interest from Cambodia on Melbourne property was a driving factor in Vaun Property deciding to open a local representative office in Phnom Penh. The weekend's event confirmed out previous experience: Many locals want to buy in Melbourne to give their children a place to live while studying. Of course, the AUD at a decade low has also fuelled interest.”He mentioned that Australia is a country which allows foreigners to buy new property, and that Melbourne was ranked as one of the most livable cities in the world. This reputation is mostly due to its education quality, infrastructure and amenities.Australia 108 offers up top-tier amenitiesThe weekend’s event also highlighted the slew of luxury features on offer to future residents of Australia 108. The design of the building stands in a class of its own. Standouts of the structure include a 70th-floor sky lobby flanked by a six-pointed hourglass-shaped protrusion. Guests learned that this accent of the building represents the six states of Australia.Australia 108 also boasts a sky garden, movie theatre, resort-style spa, and golf room. Additionally, there’s onsite five-star dining and a sky gym packed with state-of-the-art equipment.Interested investors are urged to act fast. Everyone at the event agreed that once the properties are sold they are likely to be held for a very long time. What’s more, there’s no saying how long the AUD will stay at its current low. Contact Vaun Property for more information on Melbourne’s Australia 108.Article by:

Entries are closing soon for Cambodia Real Estate Awards 2019 (CREA 2019). CREA 2019 is the second edition of the annual awards show celebrating the top-performing professionals, including leading agents and agencies, in the real estate industry in Cambodia, and recognizing their efforts to raise the bar in the industry nationwide.Organised by Cambodia’s leading property-focused marketing company, Realestate.com.kh, in collaboration with the Ministry of Economy and Finance (MEF) and Cambodian Valuers and Estate Agents Association (CVEA), the mission of CREA 2019 is to recognise the achievements of the Cambodian real estate industry objectively, fairly and inclusively by allowing all firms and individuals to join the competition regardless of the size or wealth of their operations.Registration closing soon for Cambodia Real Estate Awards 2019Realestate.com.kh invites all real estate agencies and agents in Cambodia to enter before the deadline, November 21, to get a chance to win awards."Whether you’re a small or big agency, you’re eligible to participate in this competition. Entry to CREA 2019 is free of charge, and there is absolutely no cost associated with winning any of the awards. The registration is still open and can be quickly done online. Please don’t miss this chance for you or your agency to be recognised as a top performer in the industry," says Tom O’Sullivan, CEO of Realestate.com.kh.Read more about the terms and conditions of entry here!To register your entry for winning the awards can be quickly done with three simple steps:1. Select the award categories you would like to enter2. Record a 2-minute video related to your entry (This short video is essential. It is your chance to convince and prove to the judging committee why you deserve the award.)3. Submit your video to Realestate.com.kh’s team via info@cambodiarealestateawards.comTo find out more, please visit the Cambodia Real Estate Awards website or call 092 92 1000.Why you should join the Cambodia Real Estate AwardsCambodia Real Estate Awards 2019 is a platform created to recognise the agents and agencies in Cambodia that have been working extensively to promote and continually improve the industry. It is also to celebrate the most excellent real estate practices by professionals throughout the country. Therefore, winning an award at the CREA 2019 can be a game-changer for agents or agencies.Values include:Recognition as a leader in the Cambodia real estate industryWinners are awarded the iconic Cambodia Real Estate Awards trophy and certificateThe ability to create/use marketing assets to leverage across the agent or agency’s businessRead more about value for winners here!Judging process for Cambodia Real Estate AwardsWinners of the CREA 2019 will be judged and decided by a committee made up of respectful individuals and professionals in the industry, in combination with public opinion obtained through online voting mechanisms on Realestate.com.kh’s website and social media channels.To make sure that the process is fair and free from any bias, Realestate.com.kh will remain independent and stay away from the judging process. On top of that, the whole process will be monitored with diligence by an established accounting and auditing firm, Cambodian Investment Management.CREA follows a globally proven model that awards excellence across the industry and guarantees transparency, objectivity and justice.The Cambodia Real Estate AwardsThe award will be divided into two categories, including Agent Awards and Agency Awards. Also, the agency is classified into two different types of agency determined by the number of employees, Corporate Agency for 1-15 staff and Enterprise Agency for the team of 16 and above.Cambodia Real Estate Awards for AgenciesReal Estate Agency of the Year (Corporate)Real Estate Agency of the Year (Enterprise)Best Up and Coming Agency of the YearRegional Agency of the YearValuation Company of the Year (Corporate)Valuation Company of the Year (Enterprise)Commercial Agency of the YearProperty Management Agency of the YearEmployer of Choice AwardAgency of Choice Award (chosen via public voting)International Agency of the YearCambodia Real Estate Awards for AgentsReal Estate Agent of the YearSales Agent of the YearRental Agent of the YearBest Up and Coming Agent of the YearAgent of Choice Award (chosen via public voting)Valuation Professional of the YearThe Cambodia Real Estate Awards 2019 is set for 12 December. All the shortlisted nominees and the broader real estate industry will be invited to join the Awards Ceremony and gala dinner at the Sofitel Hotel in Phnom Penh.Ticket sales and sponsorship for this prestigious event are now open!For tickets: Please call 092 92 1000 or email info@cambodiarealestateawards.comFor sponsorship: Please contactTYLER Stuart (English)tyler.stuart@realestate.com.kh+855 12 599 669 | +855 81 599 669NIN Kang (Khmer & Chinese)nin.kang@realestate.com.kh+855 78 637 323 | +855 93 552 305TestimonialCBRE Cambodia won the Commercial Agency of the Year in 2018 James Hodge, CBRE Cambodia’s director, said, “The benefit of winning an award such as this is the recognition in the market. People recognise that when you’ve won this kind of award, and your services are top-of-the-market.”“Definitely a great event, really excellent organisation,” he added.If you're interested in learning more about the development of Cambodia, download our Investment Guide 2019Registration for Cambodia Real Estate Awards 2019 is open. Article by:

Leveraging your fortune is now easier than ever with a brand-new promotion from Sen Sok districts North Park Condominium. In a city full of diverse money-making projects such as malls, commercial centres and developments, North Park stands in a class of its own. There’s an amazing promotion in effect now where you can get a unit here at a huge discount. Keep reading to find out!Located on 1.2 hectares of gorgeous land, just a few minutes from the international airport, North Park has a sense of open space that you just won’t find in the middle of the city. From the open-concept kitchen and living space to the open space surrounding the building, there are plenty of opportunities for the whole family to enjoy life and relax.  The prestigious North Park Condominium is designed with luxurious living spaces that range from one-bedroom to three-bedroom designs. The construction of the project is completed and it’s ready for the new owners to bring it into the 21st century.  The recent update is that there are only five units left in North Park’s building B and if you buy now, you will get an $8,888 discount per unit. Remember, eight is one of the luckiest numbers!Rent then own at North Park CondominiumWhat’s more, North Park is currently running a “Rent then Own” promotion. Under this plan you can first move into the community as a renter. You will sign a normal one-year contract and get to live in one of the most luxurious residential complexes in the country.Then, after six months, you will be given the option to become an owner. This program is for anyone who may not be ready just yet to start down the path of property ownership. If you decide to become an owner you can then begin making payments for the remainder of your lease period. Then, after you are paid off you will own a prestigious property that is sure to pay huge dividends in future years. However, if you want to be an owner right now, that can happen too. North Park’s building B is already complete. That means if you get one of the remaining five units, you’ll be able to move in right away. Or, if you’re a property investor you can start getting rental returns. Sen Sok is the place to beIt’s no secret that Sen Sok district is one of the fastest growing areas of Phnom Penh. There are tons of schools, banks, government offices, restaurants and so much more that are opening branches there.Of course, Aeon 2 and Makro market are already supercharging progress and development in the area. North Park is already a pillar of the march forward. Get your piece of this prime real estate and live in one of the safest and most convenient communities in the Kingdom.Contact us today and get a hold of one of the five units left!Article by:

Japanese government-backed Japan Oil, Gas and Metals Corp (Jogmec) unveiled plans to step up exploration with another Japanese partner to extract minerals in Cambodia. The move comes after a preliminary study which found a belt of copper and zinc in the area. Despite being just the first step toward a full commercial mining venture, a senior official from the Ministry of Mines and Energy welcomed the news, saying that Jogmec can help to attract more Japanese firms to enter Cambodia in the gas and mineral sectors.According to a Kyodo news report, Jogmec has teamed up with Nittetsu Mining Co for a joint survey on the belt located in the northeastern province of Stung Treng. The Cambodian government granted exploration rights in late April to Nittetsu Mining (Cambodia) Ltd, a wholly owned subsidiary of the Japanese parent firm. In a statement to Kyodo, the firm said that the initial study was undertaken to narrow down potential areas for mineral exploration and that the belt was found last year. Ministry of Mines and Energy Secretary of State Meng Sakthear said Thursday that the process is still at a very early stage. He added that a full feasibility study would take another two to three years, at least.“It is a positive sign, but to be materialized there’s a long way to go,” he said. “Jogmec is like a bridge to help Japanese companies to do business overseas in the gas and mineral sectors. With Jogmec’s help we can show the potential of Cambodia, and attract Japanese firms to explore opportunities here.” Up to now, no commercial extraction has taken place in the Kingdom. However, later this year, two separate gold mines are set to begin operations in the country.The gold mines, operated by Indian firm Mesco Gold (Cambodia) Ltd and Australia-based Renaissance Minerals (Cambodia) Ltd, have already installed processing plants. They are currently on track to start refining extracted gold late this year and next year, respectively. Mesco Gold’s mine is located in Ratanakkiri province while Renaissance Minerals’ is in Mondulkiri.The other major player in Cambodia mining is Singapore-based KrisEnergy Ltd, which operates Cambodia’s offshore Block A. Oil extraction there is expected to begin late this year.For more information on industry in Cambodia, read our full Investment Guide 2019.Article by:

Today, only SingMeng Telemedia is able to provide multiple services under fiber optic network in Cambodia. SingMeng can provide any internet solution plus OTT TV, Phone, and smart community. What makes fiber optic network superior to any other network? Will this year, be the end line for Wireless and DSL network?Broadband connection has gained a lot of popularity over the last few years in Cambodia. There is a massive rise in this service amongst businesses where entrepreneurs want to promote their services and products over the web in quick and convenient manner. Due to high speed internet connection, downloading the files, uploading the video or images and chatting has become quite easy. Users do not find any issue of slow speed nowadays due to latest technology and connection. In last couple of year, fiber optic network has emerged as one of the best connections to provide high-speed access to the web world.ADSL, Wireless, Cable and Fiber Optics are some of the techniques to allow users to access the web world. Nevertheless, when it comes to access web world in high-speed manner then fiber optics is the best connection, which has also changed the way people-using internet in the past. This connection has very thin fibers built of glass that transmit the data and files through a fiber optic network. As the glass, fibers go via low level of reduction and hindrance, the connection becomes highly effective for telecommunication. Now let’s discuss why it is seen as the high-speed connection for condominium and commercial places:Fastest Speed: It is a fastest broadband connection that provides ultra-fast speed. With the use of innovative methods and latest technologies, the connection promises to give users high speed round the clock allowing them to send emails and files in ultra-fast speed. When it comes to compare fiber optics to cable connection & Digital subscriber line (DSL), then one will find that sending data or files is much quicker with fiber network even during peak hours. From live streaming to downloading video, everything becomes faster and easier with this fiber connection.More Reliability: Fiber Optics Network is also quite reliable as compared to cable connection & Digital subscriber line (DSL). Even during the power outrage, the connection remains intact as it is made of glass that required no electricity. It is also difficult for others to hack the network as mostly the system installed in the home of users.Temperature Fluctuation: The best thing with fiber connection is that it resists more temperature fluctuations as compared to cable and Digital subscriber line (DSL). On the hand, fiber optics network can be submerged in water as well without facing any network issue.Cost: It is obvious that when you are getting better services then you have to pay little more. Fiber Optics network is also little expensive as compared to other ordinary connections. However, when users are getting high speed then paying little more cannot be a bad decision. Today businesses are running over the internet and it is only successful when they have high speed and better connectivity round the clock.So keep in mind all the points, it is not wrong to say that Fiber Optics Network is best for those who want high-speed connection with safe and strong connectivity.Today, only SingMeng Telemedia is able to provide multiple services under fiber optic network in Cambodia. SingMeng can provide any internet solution plus OTT TV, Phone, and smart community. Discover SingMeng solutions: http://smtelemedia.com/Read the latest and greatest real estate news on realestate.com.kh today!Click here for current real estate for sale in Phnom Penh and current real estate for rent in Phnom Penh!

The Peninsula’s status as one of the top developments in the country was solidified over the weekend when it was given trophies for Best Condo Interior Design and Best Condo Architectural Design award at the 2019 Cambodia Asia Property Awards organised by PropertyGuru. A follow-up message on the company’s Facebook page read: “We would like to extend our heartfelt and sincerest gratitude to our beloved clients, our partner, Tings & Associate, and our team members. These two awards are the affirmation that our emphasis on providing an excellent lifestyle quality and experience to our residents is being acknowledged and recognized.”Indeed, these honours absolutely affirm that The Peninsula, and Chroy Changvar in general, are set to become mainstays of the capital’s real estate sector for now and the future.Find more info about at Realestate.com.kh's profile page for The Peninsula.Luxury at every cornerWhen you browse through The Peninsula’s list of amenities, it’s not surprising they took home an award for their work. Here’s just a sampling of the luxury at the complex:The rooftop area boasts a massive sun deck, pool and jacuzzi. Taking in the city view is pure relaxation. Speaking of relaxation, there’s also a sky garden which is the perfect place for a morning stretch, meditation or Tai Chi. It brings energy to the space. If you need another space to get some energy, head down to the state-of-the-art fitness centre. You can exercise and still enjoy the view.For the little ones, there’s a children’s pool and play zone. And for the adults, there’s a full sauna. But if you want to relax in the shade, no worries. Did we mention the juice bar terrace? Oh yes, order a shake and kick back. If you love playing games or watching movies there’s also something for you. The social clubhouse has billiards, a home theater and card tables.On top of the facilities you’ll use on the weekends, The Peninsula has plenty of elements that fulfill all the day-to-day needs. The grand lobby is outfitted with comfortable furniture so you can sit for a quick meeting. If you need something more private, just head to the co-working lab. There you’ll find space for projects of all kinds.Act fastUndoubtedly, these awards mean that more people will be lining up to buy condos at The Peninsula. How could you blame them with a list of features this long?Yet, this complex doesn’t just have to be a place you dream about. The Peninsula can be the next place you call home.Don’t wait, talk to a representative today and get a piece of this award-winning building!Check out all of the newest real estate developments in Cambodia.

The fourth annual Cambodia Architect & Decor Expo kicked off their three-day event with an opening ceremony on Koh Pich Thursday. Around 180 brands and exhibitors have booths set up for the show.The event, jointly organised by ICVeX Co Ltd, Index Creative Village and the Cambodia Society of Architects, will show off nearly every facet of the home decor sector from paint to furniture.H.E. Lao Tipseiha, Secretary of State at the Ministry of Land Management, Urban Planning and Construction, delivered the opening remarks after being introduced by media personality DJ Nana. Tipseiha reflected on the huge progress of the industry over the last year.Also speaking at the opening ceremony were Sin Sochiet, President of Cambodian Society of Architect, and Chinakit Viphavakit, General Manager of the organisers ICVeX Co Ltd.“We believe it is essential for people to feel comfortable at home and in the office, and live and work in a good environment,” said Viphavakit, adding that the theme of this year’s event is “design for better workplace and living”.The event was also backed by Jotun, the official decoration sponsor, Architect ‘19, K Supply, L&E, TOA Construction, Brandex Directory, Construction and Property Magazine, Digital Pages, and Southeast Asia Globe.Need a quick brief on business in Cambodia? Read our Investment Guide 2019

Cambodia's first aquafeed plant will begin producing fish feed and seed this month in Siem Reap and will incorporate US soy into fish feed, according to a release by the project operators.The plant is a part of a whole project called Commercialization of Aquaculture for Sustainable Trade (CAST) which was initially launched earlier this year. The plan is backed by the American Soybean Association (ASA). It is set to run until 2023 and is backed by $17.1 million in funding from the US Department of Agriculture.“CAST will accelerate production of high-demand fish species for the Cambodian market and develop a lasting aquaculture industry,” ASA said in its release issued on May 30. “A key aspect of the project strengthens local production of high-quality feed and fish.”In addition to increasing access to fish seed and feed, the CAST project aims at strengthening links in the value chain – from hatcheries and fish producers to buyers and distributors. It will cover major markets in Phnom Penh, Siem Reap and six provinces along main waterway– such as Kandal, Kampong Cham, Kampong Thom, Siem Reap, Battambang and Pursat.Aquaculture is one of Cambodia’s most important sectors, with production growing by 17 percent in 2017 alone, to reach over 200,000 tonnes of fish. According to data from Open Development Cambodia, fish farming accounts for around a quarter of the Kingdom’s fish supply. To learn more about agriculture and industry in Cambodia, download our Investment Guide 2019.Article by:

The ninth edition of the Cambodia Real Estate Magazine is hitting the shelves and going live this week. This issue brings tons of new and in-depth coverage about the Kingdom’s explosive real estate industry.With tons of news stories, features, profiles and interviews, the latest issue is your best resource for staying up to speed on the sector.Even better, the entire issue is available for free. Get your copy at the nearest real estate agents office, coffeeshop or major hotel. Want a digital copy? Just click over to our website and download it now!The Cambodian real estate sector has been growing tremendously over the last few years. This is evidenced by growing number construction projects sprouting up every day.Insiders have forecasted that, over the next five years, the Kingdom’s property sector will diversify and improve. This will make it one of the most vibrant areas in Asean.  Full of facts and figures, the Cambodia Real Estate Magazine is a must-read for any investors, real estate professionals and anyone doing business in the Kingdom.Download the full magazine now!

Realestate.com.kh, Cambodia’s largest real estate website, has linked up with one of the foremost names in China’s property sector, Fang.com.The move comes as companies both in Southeast Asia and abroad are looking for new ways to connect with China’s massive consumer market. Earlier this week, it was revealed that 1,420 building projects worth a combined $2.7 billion were approved in the first four months of this year by the Ministry of Land Management. That number is up 21% over last year. Read more about the increase in approved real estate projects.Many of these new projects will no doubt be courting international buyers. Indeed, many of Cambodia's newest real estate developments are eager to find buyers in China looking to relocate to Cambodia, find an investment property, or even a holiday home.“Linking up with Fang.com means that Realestate.com.kh can connect property sellers, agents and developers in Cambodia with a massive pool of buyers both in China and abroad,” said Realestate.com.kh CEO Tom O’Sullivan, adding that the joint features would go live on June 10.What is Fang.com?Fang.com is a leading real estate portal based in China. It hosts listings from over 650 cities in 24 countries across the globe. The site averages around 120 million visitors a month and boasts 110 million registered users.Working with Realestate.com.kh means clients in Cambodia will have direct access to this massive pool of customers. Customers that would not have otherwise seen their property, agency or development.Fang.com Overseas Real Estate was established in 2010. Their property listings cover real estate in the United States, Australia, Japan, the United Kingdom, Singapore, Greece, Malaysia, Canada, and much more. It has successfully served more than 200 developers and real estate agencies overseas. New partnershipAs China and Cambodia become more connected through business, it’s no surprise that more and more companies will start collaborating across borders. Needless to say, the partnership between these two real estate portals will be the strongest outlet for anyone aiming to utilise property marketing across both Cambodia and China.Realestate.com.kh and Fang.com will work in collaboration to connect real estate professionals in Cambodia with buyers in all corners of the globe. And now, more than ever, with the millions of eager buyers in China.Stay up-to-date with the latest real estate news on the Realestate.com.kh news blog.

Prime Minister Hun Sen announced Monday that the blackouts are a thing of the past, explaining that Phnom Penh now has dedicated power reserves in case of droughts. Speaking at a graduation ceremony for university students from Royal University of Phnom Penh on Monday, the premier admitted that there had been hiccups in prior months due to the dry season sapping hydro-electric power.According to the PM, the government will reserve 400 megawatts power in 2020 to ensure the stability of Phnom Penh’s grid. He added that, in the event of another prolonged dry season, coal and petroleum power plants will pick up the slack.The PM backed up his statements by saying that two new pieces of power equipment were already in the process of being purchased and installed. Each piece being able to reserve 200 megawatts of power.“Phnom Penh needs to hold reserves of 400 megawatts. Now, [we] have already approved the budget [to buy new equipment] and have made an order to ensure that it will be completely installed in October,” he said, adding that one will come from Finland and the other from Germany.“Whenever the hydropower dam cannot produce sufficient power, the power from the engines will supply Phnom Penh. Next year there is no reason Phnom Penh will have power cuts.”Cambodia witnessed regular nationwide power cuts for nearly three months this year – from mid-March to mid-May. Many blamed dry season droughts which impacted production at hydropower dams, the main source of electricity in the Kingdom.According to Hun Sen, Cambodia is diversifying its sources of energy to include coal as well as renewable sources. Currently, there are three coal power plants in the country capable of producing a combined 370 megawatts of power. An additional plant is currently under construction. When it comes online it will be able to generate 130 megawatts.The premier’s comments are sure to garner cheers from Cambodia’s construction sector, which is in the midst of a massive boom.According to data from the Ministry of Land Management, Urban Planning and Construction, 1,420 building projects were approved in the first four months of this year. That represents a 21% increase over the same period in 2018. The approved projects are valued at a combined $2.7 billion. This total marks a 67% increase over the value of the projects approved last year.Want to win a free Phnom Penh vacation? Complete our annual survey and you could win!